You need to question why they even thought it necessary to...

You need to question why they even thought it necessary to present, on the basis that they can demonstrate minimal field success over the past year.
Their own words:
1) "A$25 million cash" 2) "More than adequate to cover budgeted exploration for 3 years (non success scenario)" 3) "Flexibility to self fund success scenarios."
+ corporate financier on the Board with local funding avenues???

Had a bugger of a time putting my Xmas tree up last night - I expected it to "light up like a Xmas tree", have to find which one of those bulbs is faulty, I guess a bit like exploration.

If they don't find their Nordic bulb within the next 3 or 4 drills - IMHO looking at 18 - 20c which could be a significant average down point